What's next for Alex Rodriguez?

Story highlights

The Yankees slugger is practicing in Florida as he recovers from injury

He signed the richest contract in U.S. sports in 2007, worth more than $27 million a year

Injured New York Yankees slugger Alex Rodriguez and Major League Baseball are negotiating a deal that would result in a lengthy suspension instead of a permanent ban, ESPN reported Wednesday night.

According to the "Outside the Lines" report, a source familiar with the discussions said representatives for the three-time AL Most Valuable Player and 14-time All-Star are talking with league officials.

The ESPN story said some baseball officials want the 38-year-old Rodriguez to be banned for life. Until now, his attorney has said he will fight any suspension or ban.

The network also reported that Rodriguez has been shown the evidence against him, including documentation that Rodriguez coerced a witness in MLB's performance-enhancing drugs investigation.

Those allegations claim Rodriguez had ties with the now-closed anti-aging Biogenesis clinic in Florida and its founder, Anthony Bosch.

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Rodriguez, now recovering from an injury, is considered one of the game's greatest sluggers. He has 647 home runs -- the fifth most-ever -- in 19 seasons. In 2009, he had an outstanding postseason in helping the Yankees win their most recent World Series title.

He holds the largest contract ever in American sports, signing with the Yankees in 2007 for $275 million over 10 years.